BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Short Interest Update

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 245,200 shares, a growth of 120.9% from the December 31st total of 111,000 shares. Based on an average daily trading volume, of 764,400 shares, the days-to-cover ratio is currently 0.3 days.

Insider Buying and Selling

In other BlackRock Innovation and Growth Term Trust news, major shareholder Saba Capital Management, L.P. purchased 282,123 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was bought at an average cost of $7.72 per share, with a total value of $2,177,989.56. Following the transaction, the insider now directly owns 60,615,765 shares in the company, valued at approximately $467,953,705.80. The trade was a 0.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 2,325,961 shares of company stock valued at $18,127,612 over the last three months.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BIGZ. Sanctuary Advisors LLC bought a new position in BlackRock Innovation and Growth Term Trust in the 2nd quarter valued at approximately $1,401,000. International Assets Investment Management LLC bought a new position in BlackRock Innovation and Growth Term Trust during the third quarter valued at approximately $1,690,000. Penserra Capital Management LLC purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the 3rd quarter worth $15,076,000. Capstone Investment Advisors LLC purchased a new position in BlackRock Innovation and Growth Term Trust in the third quarter worth about $1,818,000. Finally, Captrust Financial Advisors grew its position in BlackRock Innovation and Growth Term Trust by 4.8% during the third quarter. Captrust Financial Advisors now owns 32,800 shares of the company’s stock valued at $248,000 after buying an additional 1,500 shares during the period.

BlackRock Innovation and Growth Term Trust Stock Performance

Shares of NYSE:BIGZ opened at $8.21 on Friday. The business has a fifty day moving average price of $7.82 and a 200-day moving average price of $7.57. BlackRock Innovation and Growth Term Trust has a 1-year low of $6.66 and a 1-year high of $8.31.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $0.0868 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.04 annualized dividend and a yield of 12.70%.

BlackRock Innovation and Growth Term Trust Company Profile

BlackRock Innovation and Growth Term Trust is a mutual fund launched by BlackRock, Inc and managed by BlackRock Advisors, LLC. BlackRock Innovation and Growth Term Trust is based in United States.